Daily Crypto Update: MAID rises 20.48 percent in 24 hours!

MaidSafeCoin (MAID) has risen 20.48 percent in the last 24 hours. The cryptocurrency saw a low of 0.392 USD yesterday, May 24 and is now being traded at 0.474 USD.

What is MaidSafeCoin (MAID)?

MaidSafeCoin is a proxy token that was released during MaidSafe’s crowd sale and will be swapped for Safecoin on a 1:1 basis when Safecoin is released. MaidSafeCoin is a token that is listed on the bitcoin blockchain and can be purchased on a number of exchanges. MaideSafeCoin is a blockchain based storage solutions that store a data identifier (e.g. hash) in a blockchain, but store the data ‘somewhere else’ do not improve the security of our data. That ‘somewhere else’ still needs to be secured, and if this data can be deleted, or our access denied these ‘solutions’ are not fit for purpose. The SAFE Network removes people from the management of our information to protect the world’s data.

The ultimate smart contract. SAFE stores and protects all data within a network that has been designed for this specific task, and Farmers are paid for their excess resource that comprises the network. The network calculates the costs of services (such as storage, communications and in time computation) providing it to the user at the lowest possible cost. You should think of this as the ultimate smart contract.

The currency is the data. The SAFE Network’s currency is data and is secured on SAFE like all forms of data. In essence, the network is the ledger, but here that ledger is private and integrated, not an add-on. The SAFE network is autonomous and decentralised. It is not a set of federated servers, or owned storage locations, or identifiable nodes, nor does it contain a blockchain

Reasons for the Rise

One of the biggest reason for the rise of the cryptocurrency is that last night they announced their creation of the world’s first BFT asyn consensus mechanism that allows dynamic membership called PARSEC.

Other Major Gainers

The top ten cryptocurrencies that have gained considerably in the crypto market in the last 24 hours apart from MaidSafeCoin are:

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